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Investor Relations
SET Notification
Gas Discovery in Offshore Sarawak, Malaysia
27 June 2019
PTTEP 13061/00-6454/2019
Investor Relations
Tel. +66(0) 2537 4868, +66(0) 2537 5843
27 June 2019
President
The Stock Exchange of Thailand
93 Ratchadapisek Road, Din Daeng
Bangkok 10400
Dear Sir,
Subject: Gas Discovery in Offshore Sarawak, Malaysia
PTT Exploration and Production Public Company Limited, or PTTEP wishes to announce that PTTEP HK Offshore Limited (Malaysia Branch) or PTTEP HKO, a wholly-owned subsidiary of PTTEP, has made a discovery of gas at the Lang Lebah-1RDR2, the first exploration well in Sarawak SK410B Project located in offshore Sarawak, Malaysia.
Commenced in March 2019, the drilling of Lang Lebah-1RDR2 was targeted non-associated gas in the primary target of the Middle Miocene cycle IV/V carbonate reservoir and undertaken to a total depth of 3,810 meters. The well encountered 252 meters of net gas pay, indicating multi-TCF gas discovery. The well was tested in carbonate main target reservoir with a completion-constrained (2-7/8” tubing) rate of 41.3 MMSCFD and 246 barrel of condensate per day (BCPD) through 40/64-inch choke size.
The drilling result of the Lang Lebah-1RDR2 is historically PTTEP’s largest discovery.This affirms PTTEP’s strategy in organically growing reserves from exploration activities. The discovery will require further drilling to confirm upside potential.
Sarawak SK410B Project is located in the shallow waters, approximately 90 kilometers offshore Sarawak, with the acreages of approximately 1,870 square kilometers. The consortium consists of PTTEP HKO (the Operator), KUFPEC and PETRONAS Carigali Sdn. Bhd. with participating interests of 42.5%, 42.5% and 15% respectively.
Please be informed accordingly.
Sincerely yours,
Phongsthorn Thavisin
Phongsthorn Thavisin
President and Chief Executive Officer
PTT Exploration and Production Public Company Limited
555/1 Energy Complex Building A, Floors 19-36th
Vibhavadi-Rangsit Rd., Chatuchak, Chatuchak, Bangkok 10900
Vibhavadi-Rangsit Rd., Chatuchak, Chatuchak, Bangkok 10900
Phone : 66 (0) 2537-4000
Fax : 66 (0) 2537-4444
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Copyright © PTT Exploration and Production Plc. All Rights Reserved.